Halper Sadeh LLC, an investor rights law firm, announced an investigation into whether the proposed all-stock merger of Axcelis Technologies, Inc. and Veeco Instruments Inc. is fair to Axcelis shareholders. The investigation focuses on ensuring shareholders receive the best possible consideration.
Concerns include whether Axcelis and its board violated federal securities laws or breached fiduciary duties by potentially failing to obtain optimal consideration for shareholders. The firm also questions if all material information necessary to assess and value the merger consideration was adequately disclosed.
Upon the closing of the proposed transaction, Axcelis shareholders are expected to own approximately 58% of the combined company. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures, or other relief and benefits.
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